On his Twitter feed, Williams put forth the statement"Made a very tough decision today..." with a web link that followed to a logo picture of the Brooklyn Nets.

The 28-year-old Williams, an All-Star the last three years, averaged team- bests in points (21) and assists (8.8) in 55 contests last season.

Williams had been enticed to play for Dallas, but ultimately the Nets were reportedly able to offer a five-year deal instead of four by the Mavericks. Multiple media sources reported Williams' new contract will be worth $98 million over five years.

A first-round pick of the Utah Jazz in 2005, Williams has averaged 17.6 points and 9.2 assists over 506 career games. He was traded to the Nets in February, 2011.

Although free agent contracts cannot officially be announced until the moratorium period ends July 11, the Nets are already reportedly bulking up their roster for the 2012-13 campaign, their first in the new Barclays Center.

On Monday, the team reportedly acquired All-Star guard Joe Johnson in a trade with the Atlanta Hawks. The Nets have also reportedly re-signed Gerald Wallace.

On Tuesday there are additional reports that the club is still attempting to add Orlando's Dwight Howard. The Nets were reportedly discussing a trade that would send Howard to Brooklyn in exchange for Brook Lopez, Kris Humphries, MarShon Brooks and a trio of first-round draft picks.

The roster retooling could help the Nets back into the playoffs, a spot they haven't been in since the 2006-07 season.